Author: Central Desk

Deloitte’s latest research, the Global Automotive Consumer Study for 2024, casts a spotlight on India’s car market, showcasing a robust pivot toward Hybrid Electric Vehicles (HEVs). This transition, fueled by the dual engines of environmental responsibility and the appeal of lower fuel costs, signifies a transformative moment for India’s vehicular dynamics. Surveying 1,000 Indian consumers, the study unveils that price remains a decisive factor in vehicle purchases, with an overwhelming majority targeting the INR 5–25 lakh price range. Despite the surge in hybrid interest, the findings also suggest a balanced affinity for both ICE and Electric Vehicle (EV) engines across…

The Biden administration contemplates a deceleration of the United States’ shift towards electric vehicles (EVs), a move that naling a more accommodating stance towards car manufacturers and labor unions. The New York Times, drawing on information from three sources privy to the matter, reports that the Environmental Protection Agency (EPA) intends to relax imminent vehicle pollution regulations. This policy adjustment allows automakers to maintain a reduced proportion of EVs in their 2030 fleets compared to original mandates under the administration’s ambitious ecological agenda. This recalibration of EPA’s proposed rule represents a concession to the automotive sector and labor organizations, voicing…

Hyundai Motor Group, the titan of South Korea’s automotive sector, has secured the third rank globally in car sales, marking the second successive year of such achievement. This development emphasize the conglomerate’s steadfast dedication to innovation, excellence, and customer satisfaction within the fiercely competitive auto industry. Boasting a varied lineup that features Hyundai Motor, Kia, and the luxury marque Genesis, Hyundai Motor Group announced sales totaling 7.34 million vehicles for 2023. This remarkable sales figure positions the group just behind the automotive behemoths Toyota Motor Group, with an unprecedented 11.23 million vehicles sold, and Volkswagen Group, which achieved sales of…

Thailand’s Deputy Prime Minister and Commerce Minister Phumtham Wechayachai convened with automotive sector representatives, with the aim of harnessing Free Trade Agreements (FTAs) to catapult Thailand’s auto exports, securing its role as a prime automotive production and export hub globally. Discussions delved into strategies for operational cost reduction and export expansion pathways, spotlighting FTAs’ potential to unlock new export markets and boost Thai automotive products’ global competitiveness. Key topics included sourcing cost-effective raw materials and establishing strategic partnerships for Thai automotive enterprises, setting the stage for a more conducive business ecosystem. The proactive stance of the Ministry of Commerce, with…

Vietnam’s landscape for transportation is undergoing a pronounced move towards electric vehicles (EVs) and hybrids, marking a notable stride in consumer preferences for environmentally friendly transport solutions. Propelled by government incentives, including exemptions on registration fees and reductions in special consumption tax, the trajectory towards electrification is advancing at an impressive rate. The statistics from 2019 to September 2023 reveal a dramatic increase from 138 electric vehicles to over 28,000, complemented by 3,557 hybrid vehicles. This surge is supported by the adoption of over two million electric motorbikes, highlighting a national pivot to sustainable mobility options. Projections for Vietnam’s electric…

VinFast’s foray into the Indonesian market through partnerships with five premier dealers—GSU, BAM, and GNA in Jakarta, MCA in Medan, and Majesty in Batam—heralds a significant leap towards establishing its electric vehicle (EV) brand presence. This alliance underscores VinFast’s ambitious strategy to connect with Indonesian consumers, leveraging the country’s growing appetite for sustainable transportation. The introduction of the VF 5, VF e34, VF 6, and VF 7 models later this year post their official market launches, with pricing, sales details, order timings, and after-sales policies to be disclosed in the first half of 2024, positions VinFast at the forefront of…

Volkswagen Group and Mahindra & Mahindra (M&M) have solidified their alliance through a groundbreaking supply agreement. This accord involves the provision of essential electric components and unified cells for Mahindra’s avant-garde electric platform, INGLO, propelling forward the vision of e-mobility collaboration shared by these automotive behemoths. Initiated with a partnering arrangement and term sheet in 2022, this collaboration now advances decisively. The pact deepens Volkswagen and Mahindra’s partnership, setting a precedent for future joint venture enhancements. As the first external adopter of Volkswagen’s innovative unified cell concept—central to its battery strategy—Mahindra demonstrates commitment to electric vehicle innovation and efficiency. Spanning…

Following a significant strike by the United Auto Workers (UAW) last autumn, Ford Motor Company faces a critical juncture, prompting a reassessment of its vehicle manufacturing locales. This labor dispute, a departure from Ford’s traditionally amicable ties with the union, propels the automotive titan to reevaluate its production strategies, as articulated by CEO Jim Farley at the Wolfe Research Global Auto Conference, New York. Reflecting on the historic alliance with the UAW, which had circumvented strikes since the 1970s, Farley underscored the disruption caused by the recent strike, particularly at Ford’s lucrative truck plant in Louisville, Kentucky. This event signifies…

Mercedes-Benz Group has concluded its exit from the Russian market by divesting its 15% stake in Kamaz, the leading truck manufacturer in Russia. This strategic decision, finalized after obtaining all necessary regulatory approvals, not only underscores the growing business implications of international conflicts but also sheds light on the changing contours of global commerce following Russia’s military intervention in Ukraine in 2022. Termination of a Prolonged Alliance The transaction concludes Mercedes-Benz’s extensive engagement with Kamaz, severing ties with a partnership that extended over a decade. Necessitated by the intricate web of U.S. and EU sanctions enveloping Kamaz, this divestiture represents…

The Tata Nexon facelift, a testament to Tata Motors’ unwavering commitment to vehicle safety, has clinched a prestigious 5-star rating from Global NCAP. This accolade underscores the automaker’s dedication to surpassing international safety benchmarks, setting a new standard for vehicle safety excellence. This subcompact SUV iteration, enhanced with additional safety features last year, showcased remarkable performance in Global NCAP crash tests. Scoring 32.22 out of 34 for Adult Occupant protection and 44.52 out of 49 for Child Occupant protection, the Nexon facelift not only eclipsed its predecessors but also elevated safety expectations industry-wide. Mohan Savarkar, Chief Product Officer at Tata…